79-999.01. Retirement allowance; payments.
102 words·~1 min read·
/ne/chapter-79/79-999-01A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For any retirement allowance of a member under the Class V School Employees Retirement Act:
(1)Monthly payments become effective on the first day of a calendar month and shall be paid to the member on the last business day of such month;
(2)The first such payment shall include all amounts of money that accrued since the effective date of the award of the annuity; and
(3)The last such payment shall be paid:
(a)On the last business day of the calendar month in which the member dies; or
(b)In accordance with the payment option chosen by the member.